1M a r k e t I n t e l l i g e n c e . C o n s u l t i n g

I n d i a T r a c t o r & T r a i l e r Ve h i c l e s & T r a c t o r & T r a i l e r T y r e M a r k e t Fo r e c a s t &

O p p o r t u n i t i e s , 2 0 1 9

I n d u s t r y B r i e f

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2

India is the third largest tractor market, globally, in volume terms. Tractor and tractor trailer companies in India

manufactured around 0.8 million tractors and tractor trailers in 2013 to address the increasing demand for the same in

agriculture and semi urban civil applications in the country. India Farm Tyre industry comprises Tractor Front tyres, Tractor

Rear tyres and Tractor Trailer tyres. Robust growth in domestic tractor sales and exports, rise in mechanized farming, usage

of tractors in horticulture, floriculture, hoe farming, etc., coupled with increasing tractor usage in urban and semi urban

centers in infrastructure and construction activities, and large tractor fleet size are the major reasons boosting the country’s

farm tyre market. Quality, brand image, lifetime, dealer suggestion and price are the most important factors for Indian

farmers to purchase a specific brand of farm tyre.

According to “India Tractor and Trailer Vehicles and Tractor and Trailer Tyre Market Forecast and Opportunities,

2019”, India’s farm tyre market exhibited a CAGR of around 9%, in value terms, during 2009-13. Tractor Front is the most

dominating farm tyre segment, in volume terms, followed by Tractor Rear and Tractor Trailer tyres. While both Tractor Front

and Rear tyres are sold in OEM and replacement segments, Tractor Trailer tyres are predominantly sold in replacement

market, with unorganized Trailer manufacturers assembling these tyres at their units. Presently, Goodyear, Apollo and MRF

are the leading farm tyre suppliers in India. “India Tractor and Trailer Vehicles and Tractor and Trailer Tyre Market

Forecast and Opportunities, 2019” report elaborates following aspects of Farm Tyre market in India:

India Farm Tyre Market Size, Share & Forecast

Segmental & Regional Analysis

Changing Market Trends & Emerging Opportunities

Policy & Regulatory Landscape

Competitive Landscape & Strategic Recommendations

Table of Content

3

1. Research Methodology

2. Executive Summary

3. India Tyre Market Outlook

4. India Farm Tyre Market Outlook

4.1 Market Size & Forecast

4.1.1 By Value

4.1.2 By Volume

4.2 Market Share & Forecast

4.2.1 By Vehicle Type (Tractor & Trailer)

4.2.2 By Company

4.2.3 By Radial Vs. Bias

5. India Tractor Front & Rear Tyre Market Outlook

5.1 Market Size & Forecast

5.1.1 By Value

5.1.2 By Volume

5.2 Market Share & Forecast

5.2.1 By Front Vs Rear

5.2.2 By Radial Vs Bias

5.2.3 By Company (Front Tyre)

5.2.4 By Company (Rear Tyre)

Table of Content

4

5.3. Pricing Analysis

6. India Tractor Market Outlook

6.1 By Volume

6.2 Market Share & Forecast

6.1.1 By Company

6.1.2 By Region

7. India Trailer Market Outlook

7.1 Market Size & Forecast

7.1.1 By Volume

7.1.2 By Region & Company

8. Tractor Trailer Market Outlook

8.1 Market Size & Forecast

8.1.1 By Volume

8.2 Market Share & Forecast

7.2.1 By Company

9. Voice of Farmers

9.1 Farmers Profile

9.2 Qualitative and Quantitative Analysis of Tractors owned by Farmers

9.3 Qualitative and Quantitative analysis of Tractor Tyres

9.4 Brand Awareness, Brand Perception and Customer Satisfaction Level

Table of Content

5

9.5 Brand wise Level of Satisfaction - Overall Analysis

9.6 Level of Satisfaction Analysis - MRF Tyres

9.7 Level of Satisfaction Analysis - Apollo Tyres

9.8 Level of Satisfaction Analysis - Goodyear Tyres

9.9 Level of Satisfaction Analysis - JK Tyre Tyres

9.10 Level of Satisfaction Analysis - Ceat Tyre

9.11 Brand Switching Attributes

9.12 Voice of Farmers

10. Voice of Dealers/Retailers/ Distributors

10.1 Dealers/Retailers/ Distributors Profile

10.2 Brand Awareness, Brand Perception and Customer Satisfaction Level

10.3 Product Related Attributes - MRF Tyres

10.4 Product Related Attributes - Apollo Tyres

10.5 Product Related Attributes - Goodyear Tyres

10.6 Product Related Attributes - JK Tyres

10.7 Product Related Attributes - Ceat Tyres

11. Segmentation, Targeting and Positioning

12. Market Trends and Developments

13. Competitive Landscape

Table of Content

6

13.1 MRF Limited

13.2 Apollo Tyres

13.3 JK Tyres

13.4 Goodyear Tyres

13.5 Ceat Tyres

14. Strategic Recommendations

15. About Us & Disclaimer

List of Figures

7

• Figure 1: India Farm Tyre Market Size, By Volume, 2009 - 13

• Figure 2: India Farm Tyre Market Size, By Value, 2009-13

• Figure 3: India Farm Tyre Market Size, By Value, 2014E-19F

• Figure 4: India Farm Tyre Market Size, By Volume, 2009-13

• Figure 5: India Farm Tyre Market Size, By Volume, 2014E-19F

• Figure 6: India Farm Tyre Market Share, By Tyre Type, By Volume, 2013

• Figure 7: India Farm Tyre Market Share, By Tyre Type, By Volume, 2019F

• Figure 8: India Farm Tyre Market Share, By Company, 2013

• Figure 9: India Farm Tyre Market Share, By Radial Vs. Bias, By Volume, 2013

• Figure 10: India Farm Tyre Market Share, By Radial Vs. Bias, By Volume, 2019

• Figure 11: India Tractor Tyre Front & Rear Market Size, By Value, 2009 - 13

• Figure 12: India Front and Rear Tractor Tyre Market Size, By Value, 2014E-19F

• Figure 13: India Front & Rear Tractor Tyre Market Size, By Volume, 2009-13

• Figure 14: India Tractor Front & Rear Tyre Market Size, By Volume

• Figure 15: India Tractor Tyre Market Share, By Front & Rear Tyre, By Volume, 2013

• Figure 16: India Tractor Rear Tyre Market Share, By Radial Vs. Bias, By Volume, 2013

• Figure 17: India Tractor Rear Tyre Market Share, By Radial Vs. Bias, By Volume, 2019F

• Figure 18: India Tractor Front Tyre Market Share, By Company, By Volume, 2013

• Figure 19: India Tractor Rear Tyre Market Share, By Company, By Volume, 2013

List of Figures

8

• Figure 20: India Tractor Market Size, By Volume, 2009-2013

• Figure 21: India Tractor Market Size, By Volume, 2014E-2019F

• Figure 22: India Tractor Market Share, By Volume, 2013

• Figure 23: India Tractor Trailer Market Size, By Volume, 2009-2019F

• Figure 24: India Tractor Trailer Market Size, By Type

• Figure 25: Major Tractor Trailer Supplier Locations, By Region

• Figure 26: India Tractor Trailer Tyre Market Size, By Volume, 2009-2013

• Figure 27: India Tractor Trailer Tyre Market Size, By Volume, 2014E-2019F

• Figure 28: India Tractor Trailer Tyre Market Share, By Company, By Volume, 2013

• Figure 29: India Farmers Interviewed, By Age (in %)

• Figure 30: Indian Farmers Interviewed, By Qualification

• Figure 31: Indian Farmers Interviewed, By Experience

• Figure 32: Indian Farmers Interviewed, By Cultivated land

• Figure 33: Indian Farmers Interviewed, By Source of Irrigation

• Figure 34: Major Tractor Brand Share

• Figure 35: Major Tractor Share, By Tractors Life

• Figure 36: Major Tractors Application Share

• Figure 37: Tractor Applications, By Distance Travelled

• Figure 38: Major Front Tractor Tyre Brand Share

List of Figures

9

• Figure 39: Major Rear Tractor Tyre Brand Share

• Figure 40: Share of Tractor Tyre, By Source of Purchase

• Figure 41: Tractor Tyres Share, By Technology

• Figure 42: Tractor Tyres Qualitative analysis, By factor of purchase

• Figure 43: Tractor Tyres Qualitative analysis, By Influencer

• Figure 44: Level of Satisfaction, By Product/Commercial/Supplier Attribute, By Brand

• Figure 45: MRF Level of Satisfaction/Level of Importance, By Product Attributes like Lifetime, Performance, Aesthetics, etc.

• Figure 46: MRF Level of Satisfaction/Level of Importance, By Supplier Attributes

• Figure 47: MRF Level of Satisfaction/Level of Importance, By Commercial Attributes

• Figure 48:Apollo Level of Satisfaction/Level of Importance, By Product Attributes like Lifetime, Performance, Aesthetics, etc

• Figure 49: Suppliers related attributes, By Apollo Brand

• Figure 50: Commercial related attributes, By Apollo Brand

• Figure 51:Goodyear Level of Satisfaction/Level of Importance, By Product Attributes like Lifetime, Performance, Aesthetics, etc

• Figure 52: Suppliers related attributes, By Goodyear Brand

• Figure 53: Commercial related attributes, By Goodyear Brand

• Figure 54: JK Level of Satisfaction/Level of Importance, By Product Attributes like Lifetime, Performance, Aesthetics, etc

• Figure 55: Suppliers related attributes, By JK Tyres Brand

• Figure 56: Commercial related attributes, By JK Tyre Brand

• Figure 57: Ceat Level of Satisfaction/Level of Importance, By Product Attributes like Lifetime, Performance, Aesthetics, etc

List of Figures

10

• Figure 58: Suppliers related attributes, By JK Tyres Brand

• Figure 59: Commercial related attributes, By JK Tyre Brand

• Figure 60: Brand Switching Attributes for Farmers

• Figure 61: India Dealers/Retailers/ Distributors Interviewed, By Age

• Figure 62: Dealers/Retailers/ Distributors Interviewed, By Willingness to Sell New Brands

• Figure 63: Dealers/Retailers/ Distributors Interviewed, By Experience

• Figure 64: Dealers/Retailers/ Distributors Interviewed, By Source of Purchase

• Figure 65: Dealers/Retailers/ Distributors Interviewed, By Brands Sold

• Figure 66: Dealers/Retailers/ Distributors Interviewed, By Factors of Purchase

• Figure 67: Tractor Tyres Qualitative Analysis, By Influencer

• Figure 68:MRF Level of Performance/Level of Importance, By Product Attributes like Quality, Brand Awareness, Brand Loyalty, Product Complaints, etc.

• Figure 69:Apollo Level of Performance/Level of Importance, By Product Attributes like Quality, Brand Awareness, Brand Loyalty, Product Complaints, etc.

• Figure 70:Goodyear Level of Performance/Level of Importance, By Product Attributes like Quality, Brand Awareness, Brand Loyalty, Product Complaints, etc.

• Figure 71:JK Tyre Level of Performance/Level of Importance, By Product Attributes like Quality, Brand Awareness, Brand Loyalty, Product Complaints, etc.

• Figure 72:Ceat Tyre Level of Performance/Level of Importance, By Product Attributes like Quality, Brand Awareness, Brand Loyalty, Product Complaints, etc.

• Figure 73: Segmentation, Targeting and Positioning, By Brand, By Price, By Point of Sale

• Figure 74: Apollo Revenue Segmentation , By Geography, By Sales, 2012

• Figure 75: Apollo Revenue Segmentation , By Product, By Sales, 2013

List of Figures

11

• Figure 76: Ceat Vehicle wise product mix , By Volume, 2013

• Figure 77: Ceat Industry composition wise revenue break-up, 2013

• Figure 78: India Tractor Front & Rear Tyre Market Size, By Volume, 2014E-19F

• Figure 79: India Tractor Trailer Tyre Market Size, By Volume, 2014E-19F

List of Tables

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• Table 1: India Farm Tyre Sales, By Company, 2013 (Thousand Units)

• Table 2: India Tractor Front & Rear Tyre Sales, By Segment, By Volume, 2009-13

• Table 3: India Tractor Front Tyre Sales, By Segment, By Volume, 2009-13

• Table 4: India Tractor Rear Tyre Sales, By Segment, By Volume, 2009-13

• Table 5: Radial Tractor Tyres Model, By Top 3Three Tractor Tyre Companies, 2014E

• Table 6: India Tractor Front Tyre Sales, By Segment, 2013

• Table 7: India Tractor Rear Tyre Sales, By Company, 2013

• Table 8: India Tractor Front Tyre Prices, By Company, By Prominent Sizes (in INR)

• Table 9: India Tractor Rear Tyre Prices, By Company, By Prominent Sizes (in INR)

• Table 10: India Tractor Market Sales, By Region, By Volume, 2013

• Table 11: India Tractor Market Share, By Region, By Volume, 2013

• Table 12: India Tractor Trailer Tyre Sales, By Company, 2013

• Table 13 India Farmers Interviewed, By States

• Table 14 India Dealers/Retailers/ Distributors Interviewed, By States

• Table 15 MRF Limited financial performance for FY 2009 - 13

• Table 16 MRF Product Portfolio

• Table 17 Apollo Product Portfolio

• Table 18 Apollo Farm Tyre Price List (1)

• Table 19 Apollo Farm Tyre Price List (2)

• Table 20 Apollo Farm Tyre Tube Price List (1)

• Table 21 Apollo Farm Tyre Tube Price List (2)

• Table 22 JK Tyres Revenue Segmentation , By Product, By Sales, 2013

List of Tables

13

• Table 23: JK Tyre Product Portfolio

• Table 24: Ceat Tyre Product Portfolio

• Table 25: Ceat Farm Tyres Price List

• Table 26:Strategic Recommendations, By Level of penetration, By Market Growth, By Competition, By Attractiveness

• Table 27: Strategic Recommendations, By Prominent Agro Fairs in India

• Table 28: Strategic Recommendations, By Tractor Trailer Suppliers in India

• Table 29:Strategic Recommendations, By Mini Tractor Suppliers to be targeted by Farm Tyre Companies

• Table 30: Strategic Recommendations, By Prominent Agro based Magazines published in India

R e s e a r c h M e t h o d o l o g y

© TechSci Research

14

Baseline Methodology :

For the study, TechSci Research gathered information through primary research surveys of about 200 respondents

from Tractor Tyre suppliers, Farmers and Dealers/retailers/distributors to gather information regarding Farm Tyre

scenario in India. We also went through company annual reports and secondary sources to verify the information.

We also put through exhaustive search of credible paid databases such as Business Week, Factiva, Hoovers, etc.,

including our internal database. Our team of analysts has then prudently evaluated all the collected information

and personated them in chronological order to depict a meaningful and clear picture of the Farm Tyre Market in

India

While compiling the data, we have also cross checked all the collected information from multiple sources and data

warehouses, so that we can present the most accurate and precise information of the concerned industry.

Challenges Encountered :

Team encountered major challenge in arriving at market break up of Farm Tyres as market is highly fragmented

with the presence of large number of unorganised players.

Companies Interviewed

MRF, Goodyear, Apollo, Ceat, JK Tyres, Malhotra Tyres, AsianTyres, Mahindra, Tafe

Sources Economic Intelligence Unit (EIU), Hoovers, Business Week, Company Annual Reports, Factiva, One Source and News Articles

S a m p l e D a t a - S n a p s h o t

15

© TechSci Research

2009 2010 2011 2012 2013

1020

3040

50

Figure 1: India Tyre Market Size, By Volume, 2009 -13, ( Million Units)

Goodyear,

14%

MRF,

Apollo,

Ceat,

14%

JK Tyre, 14%

Birla,

15%

Others,

15%

Figure 8: India Farm Tyre Market Share, By Company, 2013

0.10

0.20

0.30

0.40

0.50

2009 2010 2011 2012 2013

Figure 15: India Tractor Market Size, By

Volume, 2009-2013 (In Million Units)

Radial Tyre,

50.00%

Bias Tyre,

50.00%

Figure 9: India Farm Tyre Market Share, By Radial Vs. Bias, By Volume, 2013

Radial Tyre,

50.00%

Bias Tyre,

50.00%

Figure 10: India Farm Tyre Market Share, By Radial Vs. Bias, By Volume, 2019

1.00

2.00

3.00

4.00

5.00

2009 2010 2011 2012 2013

Figure 11: India Front & Rear Tractor Tyre Market Size, By Volume, 2009-13 (In Million Units)

Radial Tyre,

50.00%

Bias Tyre,

50.00%

Figure 14: India Tractor Rear Tyre Market Share, By Radial Vs. Bias, By Volume, 2019F

2 Wheeled Tractor Trailer, 50%

4 Wheeled Tractor

Trailer,50%

Figure 18: India Tractor Trailer

Market Size, By Type

2040

60

80 100120

140160

180200

220

Figure 17: India Tractor Trailer Market Size,

By Volume, 2009-2019F (In 000’Units)

R e p o r t O r d e r i n g

16

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